BlueLinx (NYSE:BXC) Price Target Cut to $135.00

BlueLinx (NYSE:BXC) had its price objective reduced by Benchmark from $144.00 to $135.00 in a research report report published on Thursday, Benzinga reports. Benchmark currently has a buy rating on the construction company’s stock.

Separately, TheStreet lowered shares of BlueLinx from a b rating to a c rating in a report on Thursday, February 22nd.

BlueLinx Stock Up 0.1 %

BXC opened at $102.54 on Thursday. The firm’s 50-day simple moving average is $119.70 and its 200-day simple moving average is $107.11. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.55 and a current ratio of 4.71. BlueLinx has a twelve month low of $67.76 and a twelve month high of $132.67. The firm has a market cap of $888.20 million, a price-to-earnings ratio of 19.24 and a beta of 1.96.

BlueLinx (NYSE:BXC) last posted its earnings results on Tuesday, February 20th. The construction company reported $2.64 earnings per share for the quarter. BlueLinx had a net margin of 1.57% and a return on equity of 14.11%. The business had revenue of $712.53 million for the quarter.

Insiders Place Their Bets

In other BlueLinx news, Director Mitchell B. Lewis sold 314 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $119.09, for a total transaction of $37,394.26. Following the sale, the director now owns 38,828 shares of the company’s stock, valued at approximately $4,624,026.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Mitchell B. Lewis sold 314 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $119.09, for a total value of $37,394.26. Following the transaction, the director now owns 38,828 shares of the company’s stock, valued at approximately $4,624,026.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mitchell B. Lewis sold 2,904 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $117.15, for a total transaction of $340,203.60. Following the completion of the transaction, the director now directly owns 2,790 shares in the company, valued at approximately $326,848.50. The disclosure for this sale can be found here. Insiders have sold a total of 8,570 shares of company stock valued at $1,000,196 in the last 90 days. 3.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its stake in shares of BlueLinx by 305.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock valued at $73,000 after purchasing an additional 425 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in BlueLinx during the 3rd quarter worth approximately $47,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in BlueLinx by 19.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,410 shares of the construction company’s stock worth $160,000 after acquiring an additional 230 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in BlueLinx during the 1st quarter worth approximately $218,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in BlueLinx during the 4th quarter worth approximately $205,000. Institutional investors own 90.83% of the company’s stock.

BlueLinx Company Profile

BlueLinx Holdings Inc, together with its subsidiaries, engages in the distribution of residential and commercial building products in the United States. It distributes specialty products, including engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products; and structural products, such as lumber, plywood, oriented strand boards, rebars and remesh, as well as other wood products that are used for structural support in construction projects.